GIBRALTAR, Jan. 27, 2023 /PRNewswire/ -- Trading Giant Crypto Shark has posted a record year of trade despite a slowdown in the third quarter, thanks to handsome growth worldwide.

The Gibraltar-based group saw its revenue surge by 18 per cent to $131million last year, with around three-quarters of takings deriving from it's unregulated markets, which now include UK.

Business-to-consumer trade provided the bulk of that expansion as revenues from crypto trading jumped by 24 per cent. Stiff trading restrictions on trading outlets in 2020 and the early part of 2021 in response to the coronavirus pandemic meant traders and hodlers went online, and therefore heavily benefiting from the highest crypto prices ever, this also helping companies like Crypto Shark as a consequence.

Chief executive P. Roby said: 'I am pleased to report another year of record revenues alongside these important strategic milestones, delivering double-digit revenue growth despite a very tough comparative period.

'This performance reflects the continued success of our data-driven investments and execution against our product-leadership focus that delivers ongoing improvements in the usability, quality and safety of our crypto trading products.'

Future Plans

The firm said they would help it diversify its sources of revenue, boost its presence across numerous countries and enable it to take advantage of the thriving crypto trading industry.

The biggest surprise about Crypto Shark is the fact that even though they are based in Gibraltar & United Kingdom, their big profits don't come from there but mostly from offshore countries that have little or no trading regulations which means they don't have to pay as much tax as they do in the United Kingdom. They are meticulous where they offer their services, and it is a strategic play overall as they can earn as much profit without needing to pay the high tax attached to their profit.

SOURCE Crypto Shark